Guideline Value for Sivasakthi Nagar 1st Street

Sivasakthi Nagar 1st Street guideline value

The current guideline value of Sivasakthi Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sivasakthi Nagar 1st Street has changed

The guideline value for Sivasakthi Nagar 1st Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it saw a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in the 2023 revision, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. The changes between these revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, and a substantial 329% increase from 2007 to 2012.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Sivasakthi Nagar 1st Street.

• Sivasakthi Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sivasakthi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, and the registration fee, charged at 2%, would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. Please note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sivasakthi Nagar 1st Street?

The Sivasakthi Nagar 1st Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Kolathur

The guideline value is a crucial factor in property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the official valuation.

During the registration process, the guideline value helps in establishing a fair price for the property, which is essential for legal and financial purposes. It is important for buyers and sellers to be familiar with the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Sivasakthi Nagar 1st Street?

The current guideline value of Sivasakthi Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 371% over the years.

What is the land classification for Sivasakthi Nagar 1st Street?

The land classification for Sivasakthi Nagar 1st Street is Residential Class I Type - I.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Sivasakthi Nagar 1st Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.